Ann: May Business Update, page-139

The listing delay is an interesting one Tekvest because my understanding is that once an S1 Prospectus Form becomes effective, the company can't release any new info for 40 days. This rule is apparently to prevent the company from promoting an IPO any further and avoid insider info issues. This rule surely applies to Direct Listings too. I'd say they either want to, or have been asked to by the SEC, report the June Qtr results, update the S1 one more time and then list and let nature take it's course for x number of days. With that in mind it makes sense to get the quarterly results released prior to listing doesn't it? They'll probably shift away from monthly updates once listed too imo. What do you reckon?